The past trading week saw notable movements in key financial markets. The euro strengthened against the US dollar amid expectations of Federal Reserve monetary policy easing and the resilience of the Eurozone economy. Bitcoin experienced a corrective decline but remains within an upward channel. Brent crude oil is under selling pressure, indicating a potential continuation of its decline. Gold also underwent a correction but maintains a bullish overall trend. Let’s take a closer look at the prospects of the main instruments.
EUR/USD
The EUR/USD pair ended the week with solid growth, closing around the 1.0880 mark. The euro found support as the European Central Bank remained cautious about rate cuts, while the latest US inflation data showed signs of slowing down, reinforcing expectations of a possible Fed rate cut in the second half of the year.
BTC/USD
Bitcoin (BTC/USD) ended the week at 83,061, remaining within its upward channel. Despite its overall bullish movement, the asset is testing the area between signal lines, suggesting possible selling pressure. In the near term, a corrective move toward the 80,505 support level is likely, followed by a potential rebound and a target above 119,065.
Brent
Brent crude oil closed the trading week near $70.49 per barrel. The price movement below signal lines indicates ongoing selling pressure, which may lead to a test of the $66.85 support level. If a rebound occurs, the price could return to the $75.85 area.
XAU/USD (Gold)
Gold ended the week near $2,996 following a corrective decline. XAU/USD remains within an upward channel, with a breakout above the signal lines confirming continued buying pressure. In the near term, a test of the $2,905 support level is expected, followed by a potential rebound toward the $3,125 target.
Conclusion
Markets continue to exhibit mixed trends: the euro is attempting to establish a bullish trajectory, bitcoin is undergoing a correction, Brent crude oil faces selling pressure, and gold maintains a strong upward impulse. The further movement of assets will depend on macroeconomic data and central bank decisions. Key factors in the coming week will include inflation data, signals from the Federal Reserve, and geopolitical developments.
